what is collateral?..............
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In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan.
Collateral is something you own that the bank can take if you fail to pay off your debt or loan. It typically ranges from future paychecks for a personal loan to your car for an auto loan.
Collateral is something you own that the bank can take if you fail to pay off your debt or loan. It typically ranges from future paychecks for a personal loan to your car for an auto loan.
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Answer:collateral is an asset that borrower own and we can use this as a guarantee to a leader until the loan is repaid.
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